Re: Direct Consolidation Loan Process Sallie Mae is pleased to be one of four consolidation servicers for the new Direct Consolidation Loan process that began January 2, 2014. We welcome the opportunity to partner with you to help guide students toward financial success. Schools, lenders, guarantors, or third-party servicers acting as their agents, are encouraged to receive Loan Verification Certificates (LVCs) and payoff manifests electronically. These files are used in the loan consolidation process for Federal Perkins Loans and/or eligible health profession loans. We’ve revised our Quick Reference Guide to OpenNet® File Management System (FMS) Consolidation Processing to provide guidance on how to view, download, or process LVCs and payoff manifests electronically. You’re welcome to contact us if you have any questions. Sallie Mae–Department of Education Loan Services Direct Consolidation Loan Originations Team P.O. Box 6180 Indianapolis, IN 46206 Phone: (317) 578-6176 Email: [email protected]Need access to OpenNet or help with logging in to the system? Electronic Services Phone: 1-800-348-4606 Email: [email protected]For additional information regarding the new Direct Consolidation Loan Process, please refer to Federal Student Aid’s Electronic Announcement dated March 21, 2014. Contact information for the Department of Education’s four consolidation servicers is available on the IFAP website’s Loan Consolidation for Loan Holders and Servicers page. General information about Direct Consolidation Loans is available at http://studentaid.ed.gov/repay-loans/consolidation. We look forward to working with you. Sincerely, Sallie Mae–Department of Education Loan Services Direct Consolidation Loan Originations Team
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Re: Direct Consolidation Loan Process - Sallie Mae · Re: Direct Consolidation Loan Process Sallie Mae is pleased to be one of four consolidation servicers for the new Direct Consolidation
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Re: Direct Consolidation Loan Process Sallie Mae is pleased to be one of four consolidation servicers for the new Direct Consolidation Loan process that began January 2, 2014. We welcome the opportunity to partner with you to help guide students toward financial success. Schools, lenders, guarantors, or third-party servicers acting as their agents, are encouraged to receive Loan Verification Certificates (LVCs) and payoff manifests electronically. These files are used in the loan consolidation process for Federal Perkins Loans and/or eligible health profession loans. We’ve revised our Quick Reference Guide to OpenNet® File Management System (FMS) Consolidation Processing to provide guidance on how to view, download, or process LVCs and payoff manifests electronically. You’re welcome to contact us if you have any questions. Sallie Mae–Department of Education Loan Services Direct Consolidation Loan Originations Team P.O. Box 6180 Indianapolis, IN 46206
Phone: (317) 578-6176
Email: [email protected] Need access to OpenNet or help with logging in to the system?
For additional information regarding the new Direct Consolidation Loan Process, please refer to Federal Student Aid’s Electronic Announcement dated March 21, 2014.
Contact information for the Department of Education’s four consolidation servicers is available on the IFAP website’s Loan Consolidation for Loan Holders and Servicers page.
General information about Direct Consolidation Loans is available at http://studentaid.ed.gov/repay-loans/consolidation.
We look forward to working with you. Sincerely, Sallie Mae–Department of Education Loan Services Direct Consolidation Loan Originations Team
Need assistance? Contact Electronic Services: (800) 348-4606 Issued: 04/21/2014 Copyright 2014 Sallie Mae, Inc. – All Rights Reserved
With OpenNet® File Management System
SM (FMS) Consolidation Processing, loan holders (schools, lenders, guarantors, and
servicers) can view, download, and certify Loan Verification Certificates (LVC) and view, download, and make payoff adjustments (Payment Manifest) for newly disbursed Direct Loan Consolidation loans. If you need assistance please contact one of the following groups: User Access/Login Problems Electronic Services – 1-800-348-4606 or [email protected] Navigation/LVC Certification Questions Sallie Mae Consolidation Department – 317-578-6176 or [email protected] To get started, click on the link in the email notification you received to go directly to the OpenNet FMS New Files Ready for Download page, or type the following URL into your Web browser’s Address field: www.opennet.salliemae.com/fms. The OpenNet FMS Main Menu displays. Click the Download Files From OpenNet button.
How to view the available file list: 1. Log in to OpenNet FMS by entering your Sallie Mae user ID and password and then clicking on the Log In button.
Need assistance? Contact Electronic Services: (800) 348-4606 Issued: 04/21/2014 Copyright 2014 Sallie Mae, Inc. – All Rights Reserved
The New Files Ready for Download page displays.
NOTE: If you are a new user, before you see this page you will be asked to accept the Web Site Terms of Use and to reset your account, including resetting your temporary password and setting up a set of Challenge Questions.
2. Click on the View Report link next to the type of file that you want to view. The file you will most likely need to view is the
NOTE: Other file types are included on this download page, for example, DISB RSTR CL4 and RESP CL4 files. These file types are used by the Financial Aid Office for private credit loan origination and disbursement. Leave these files in the download queue for the appropriate staff member to process.
Select an EVC Request File or select a Payoff Manifest File.
Need assistance? Contact Electronic Services: (800) 348-4606 Issued: 04/21/2014 Copyright 2014 Sallie Mae, Inc. – All Rights Reserved
6. Once you have finished entering the information for all of a borrower’s loans, click on the Next link to go to the next borrower.
7. Once you have finished entering all of the loan information for all of the borrowers, click on the Submit Certification button.
NOTE: If you have to stop in the middle of a file, click on the Submit Certification button. When you return to the file later, only the remaining borrowers will display.
On this page you can also:
Remove the updates made on the page via the Remove All Updates button.
Validate that the formatting of the updates made on the page are correct via the Validate Updates button.
Need assistance? Contact Electronic Services: (800) 348-4606 Issued: 04/21/2014 Copyright 2014 Sallie Mae, Inc. – All Rights Reserved
The file is submitted and the Send Files – Transmission Summary page displays.
4. En
How to locate LVCs that do not display in your Download Queue:
Occasionally, LVC files might be inadvertently downloaded by school users in the Financial Aid Office when they are downloading other files. These LVC files will then no longer display in your download queue. However, you can still find these files.
1. Click on the Find Files in OpenNet link on the FMS Main Menu.